Editor's Letter

A new environment requires new thinking

Innovation and creativity are critical as industry moves into new era

A bigger, yet more complex, opportunity set

Emerging environment should bring innovation and, ultimately, growth

Building momentum as change takes hold

Hedge funds, and their investors, are evolving in a new era

Fortune favours the well-informed

What the markets will do in 2014 is anyone's guess, although a shifting global backdrop bodes well for an active approach

Manager choice critical to investing success

Selecting managers wisely and well at the outset must take precedence over all other criteria

It’s risk versus reward, in all market conditions

Equity markets at all-time highs are giving managers and investors pause for thought

Coming up through the ranks

Maintaining the highest standards is critical in search for the next generation of managers

Standing alongside other asset classes

There is a growing awareness that hedge funds have a role to play for all kinds of investors

Local picture mirrors global trends

Hedge fund industry faces universal challenges

Stretching beyond the comfort zone

Growing international interest raises the bar for managers